• 26
  • April
    2011

As stated in previous posts, "one of the more effective asset protection tools in a marriage is a prenuptial agreement." While this is certainly true, not all soon-to-be married couples look upon prenuptial agreements favorably. In fact, many prefer to put their trust in their partner.

While this is understandable, it is still very important for couples to have certain conversations prior to their marriage, as it will prevent surprises and help them plan accordingly.

Today's post will continue to examine a few of the financial topics that experts recommend couples discuss prior to their wedding.

Please see the previous post "Important financial considerations for soon-to-be spouses" for more information.

  • Savings: It is very important that soon-to-be married couples don't assume that their partner has some money put away in a savings account. Couples should take the time to verify their respective savings and discuss how it affects their plans for the future. If savings are not at the anticipated level, it may prove necessary for them to set aside funds for a few months or even years.
  • Debts: Just like savings, it's very important that couples don't make assumptions regarding debt levels. While a person may assume that their future partner has loans/debt to pay off, it's quite possible that they have don't have the full picture in terms of the amount owed and/or the interest rates involved. Accordingly, couples should strongly consider discussing their full debt picture and structuring a plan about how to pay them.
  • Financial objectives: In keeping with the overall discussion of savings/debts, couples may also want to discuss their goals for the future (i.e., buying a home, investment strategies, retirement plans), making sure that they are on the same wavelength. If they aren't, the discussion can go a long way toward reconciling any differences and making sure the couple is working toward the same goals.

Stay tuned for more from our Denver divorce blog ...

If you would like to learn more about divorce, property division or asset protection, you should strongly consider speaking with an experienced legal professional.

This post is provided for informational purposes only and is not to be construed as legal or financial advice.

Related Resources:

10 things to know about your fiancé's finances before tying the knot (Fox Business)